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1. 3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. SERIAL NUMBERS
2. 3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. MOVIE
3. 3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. SERIAL
4. 3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. UPDATE

To make this easier, you could set up a place setting and then tell how many settings you have. If you are videoing sets of china or silverware, make sure to include the number of items in the set, age of the item and where it was purchased.

3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. SERIAL

In your narrating, be sure to note any serial numbers, date of purchase and amount paid for the item. Be sure to open all closets and cabinets and describe what is in them.

3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. MOVIE

You do not need to record every item of clothing, every kitchen item, every screwdriver and wrench, and every book or movie you own.If your policy includes replacement cost coverage, your insurance company will need this information to estimate the cost of a suitable replacements for your possession. Record the serial or model numbers of your electronic equipment, small and large appliances.These are important items to be sure to include in your home inventory: Be sure to include pictures and appraisals of valuable items. If you prefer not to use digital equipment to prepare your home inventory, you could use the “old school approach” by writing everything down.

3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. UPDATE

You should make an effort every year to update this inventory to adjust for any possessions that you have purchased or sold. These pictures or video should clearly focus on the valuables that are insured and be sure they are listed on the inventory document. Using this device you will be able to take pictures or do a talking video of each room in your home. This app could make it much easier to complete your home inventory. Most insurance companies have created a home inventory app that you can either put on either your smart phone or iPad. Homeowners who have lived in their home for many years, this might seem like a daunting task. It’s important to know how much, and to know exactly what you have, in case you ever need to file a personal property claim with your homeowner’s insurance or renter’s insurance carrier.įor first time renters or homebuyers, this home inventory is usually quite simple. You will probably find that when you do a home inventory, your personal belongings are usually being worth more than you realize – $20,000, $40,000 – maybe even more. If you do not, the insurance company will depreciate your loss item and take your policy deductible before they pay out your claim on that item, which will probably make it so you will not get enough money to replace your possession. This is an additional insurance rider that you pay a small additional premium for that you should be very sure you have on your insurance. This is important because if you have a rider on your policy called “Replacement Cost” you want to be sure that you receive a new item of like kind and quality.

3. GIVE TWO REASONS YOU SHOULD COMPLETE A HOME INVENTORY. SERIAL NUMBERS

The most important part of a home inventory is to list and photograph (if possible) all your possessions, including a description of the item, any serial numbers or model numbers, and a monetary value of the item. Sit back and relax, knowing you are covered if your possessions are ever lost, damaged or stolen. It makes the claims process calmer for everyone and assists the process in a stressful situation. You have a record of everything you own, and can easily submit it to your insurance carrier. With your home inventory done, you don’t have to remember or guess. Taking time to complete this now allows you to: establish coverage amounts needed verify your losses to settle your claim quickly at the time of need verify losses for your income tax showing your deductible and identify items not covered by your insurance. If you ever need to submit a claim against your homeowner’s or renter’s insurance having an up-to-date, accurate home inventory can ensure that most of your items will be replaced. Your insurance provides compensation for the loss or damage to your personal possessions. Now is the time to take a home inventory! How will you identify each of these items should a claim be necessary? Will you remember the purchase price or appraised value? You might not realize you have lost a possession until you go to use it.

Any damage, theft or loss of these items should be covered on your homeowners or renter’s insurance policy. Whether, condo, townhouse, apartment or house, you have spent time and money getting the furnishings, artwork, appliances and electronics just right. Do you love your home and value your belongings?